Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Director Stephen B. Shohet sold 7,862 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $18.34, for a total value of $144,189.08. Following the transaction, the director now directly owns 31,978 shares of the company’s stock, valued at approximately $586,476.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Amphastar Pharmaceuticals, Inc. (AMPH) traded down 0.49% during mid-day trading on Thursday, reaching $18.45. The company’s stock had a trading volume of 118,304 shares. The company has a market cap of $852.30 million, a PE ratio of 239.61 and a beta of 1.69. Amphastar Pharmaceuticals, Inc. has a 52-week low of $12.05 and a 52-week high of $21.75. The company has a 50-day moving average price of $17.19 and a 200 day moving average price of $16.41.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.05. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The firm had revenue of $65.20 million during the quarter, compared to analyst estimates of $63.40 million. During the same period last year, the company earned $0.23 EPS. Amphastar Pharmaceuticals’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities analysts expect that Amphastar Pharmaceuticals, Inc. will post $0.27 earnings per share for the current year.
Amphastar Pharmaceuticals announced that its Board of Directors has initiated a share buyback program on Wednesday, August 9th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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Several hedge funds have recently modified their holdings of AMPH. Dimensional Fund Advisors LP lifted its stake in shares of Amphastar Pharmaceuticals by 25.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock worth $23,786,000 after acquiring an additional 270,654 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Amphastar Pharmaceuticals by 10.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,414,797 shares of the company’s stock worth $43,128,000 after acquiring an additional 235,033 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Amphastar Pharmaceuticals by 143.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 362,947 shares of the company’s stock worth $6,482,000 after acquiring an additional 213,572 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Amphastar Pharmaceuticals by 295.1% during the 2nd quarter. Citigroup Inc. now owns 221,729 shares of the company’s stock worth $3,960,000 after acquiring an additional 165,613 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Amphastar Pharmaceuticals by 11.1% during the 1st quarter. State Street Corp now owns 1,062,439 shares of the company’s stock worth $15,406,000 after acquiring an additional 106,448 shares during the last quarter. 44.26% of the stock is owned by hedge funds and other institutional investors.
AMPH has been the subject of a number of recent analyst reports. TheStreet raised Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, June 26th. Zacks Investment Research raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and set a $19.00 target price (down previously from $20.00) on shares of Amphastar Pharmaceuticals in a report on Friday, August 11th. Piper Jaffray Companies set a $19.00 target price on Amphastar Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Needham & Company LLC lifted their target price on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $20.29.
About Amphastar Pharmaceuticals
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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